February 28, 2014

INVESTOR’S BUSINESS DAILY:Minimum Wage Hike Support Falls On CBO Jobs Warning. “Less than half the public support a sharp boost in the minimum wage when told that it could cost the economy half a million jobs, according to the latest IBD/TIPP Poll out Thursday. That comes amid reports that some Senate Democrats are backing away from President Obama’s push to boost the minimum wage by 39% over the next two years, to $10.10 an hour, after the Congressional Budget Office found that it would kill 500,000 jobs.”

the randomness of cost of living by state versus a national minimum wage...I just don't get it.

http://www.cnbc.com/id/100824779came across this ranking system, trying to figure the winners and losers of a national minimum wage. interesting that states that had the best cost of living correlated strongly with the lowest on quality of life.

I know that health was probably the sole component in determining quality of life, but I find it hard to imagine that quality of life would exclude financial pressures.

the stunner from the chart was texas ranking #10 on education. no one tell paul krugman.

Give it a week, they will forget the consequences. Our electorate is the product of 40 years of federal dumbing-down of education and 25 years of making it too easy to register and vote. They are blithering idiots who have no more business in a voting booth than performing neurosurgery.

These are the people who elected Obama twice. Not a bright bulb among them.

Indeed - well said. It is tragic. Thus why I continue to believe why we must unite. No doubt there are truly misguided politicians in the GOP, but the odds are so stacked against all with this enabling of the very worst. In NYC now, there are these Democratic Partisan voters stunned to see their Charter Schools being attacked. They were not paying attention, lost in a typical image/identity fashion devoted to a superficial partisan devotion. Now, like everyone, they are paying dearly for their ignorance.

Will those in the CBO be suddenly audited by Obama's IRS? Is Holder's DOJ thinking about some legal action? How about the NSA? Are they now listening in to every move of every CBO entity, including their relatives?

This is the oppressive CHAVEZ-OBAMA collectivist/socialist/communist statism the likes of Colbert, Stewart, Matthews, Maddow, Mitchell, etc. are pimping for - bow down to the Democratic Party. Lie for the Democratic Party or feel the wrath. And here comes Hillary Rodham to cement the swindle.

People complain about stagnant and sinking wages, but no artificial minimum wage requirement is going to solve the problem. Raise the wages of the lowest-paid employees, and one of two things will happen: a) they'll be laid off, which means that all the rest of us will have to pay for their unemployment checks, or b) the wages of the middle group of employees will stagnate a little more over the next few years to make up the difference. Either way, it's a loss for the workers slightly higher up the pay scale, and rushing everybody down toward the minimum wage does nobody any good.

Look at the real reasons wages have stagnated. There have been two major social shifts that account for most of the problem. First, a lot more women entered the workforce. Did they really think that they could expand the labor supply without driving down the cost of labor? Second, we've had a very open immigration policy. Legal immigration alone has been very high, and illegal immigration makes the figures astronomical by historical comparison. Again, more labor in the work force drives down the price of labor. It's Economics 101.

Meanwhile, our country has continued to finance itself on public and private debt to make up for the lack of wage growth. As those debts come due, real wages are likely to suffer even more. Welcome to the wage death spiral, brought to you by misguided fiscal and social policymakers!

The terrible thing about job losses due to the minimum wage is that all things considered, it's the workers who are "less desirable" for one reason or another (less experience, fewer skills, don't interview as well, etc) who are hired last.- If fewer workers are hired, then these are the ones who will be left without jobs- the ones who need the foot in the door the most.

If we want the minimum wage to increase, drastically limiting the number of unskilled immigrants is the start. Labor, like anything else has a value. There is a reason doctors make more than trash haulers and engineers make more than burger flippers. Its the same reason a BMW costs more than a Ford Focus.

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